The CBDT has already Circulate vide Circular No.4/2013 dated 17/4/2013 that the Part A(Annexure) of Salary Certificate Form 16 is mandatory to download from the Income Tax New Web Site TRACE and the Part B (Annexure) must be prepare by the Employer/Deductor. As per the New Amended Salary Certificate Form 16 has already Changed of Format of Form 16 vide Notification No. 11/2013, where the Form 16 made in two part. One Part -A and Part - B. The Part A has now mandatory to download from the Web Site TRACES Portal.

The CBDT has already modified the Income Tax Form 16 in a new format and also circulated that Form 16 have in Two Parts. One is Form 16 Part A which is mandatory to download from the Traces Portal. In this Form 16 part, A has all the tax deposited amount.

Most of the employees have to get the arrears salary as their previous years, some employees have to get the arrears from the Financial Year 2000-01 and onwards financial Year, in this regard this Excel Based Software can prepare the Form 10 E from the Financial Year 2000-01 to Financial Year 2017-18. You can use this utility to calculate your Arrears Relief U/s 89(1) with Auto fill the Form 10E.

What is Form 16?

Form 16 is an Income Tax form used by companies to provide their salaried individuals in India. This form carries all the required details that help the employee in filing their tax returns with the Income Tax department in India. The Income Tax Act of 1961 and the Income Tax rules of 1962 are the laws that are prevailing in India. When Form 16 is provided to an employee by their employer it’s a source of proof of filing their Income Tax Returns, the form has various components such as Salary Income components of the employee. Every employer should provide their employees with the Form 16 who fall under the tax brackets set up the Finance Ministry of the Government of India. If an employee doesn’t fall under the tax brackets set, then he/she doesn’t receive the Form 16 as he/she will not need to pay taxes neither will they need to have Tax Deducted at source or TDS.

Purchasing a house is a major financial decision. It requires large investment due to high property rates across leading cities in India. Higher property rates would mean higher loans but sometimes, single income is not enough to make one eligible for a higher amount that one requires. Under such conditions, a joint home loan is a suitable option which helps you to get higher credit/loan. In simple terms, it just means 2 applicants applying for a home loan to purchase a house. With additional income of the co- applicant being considered for eligibility, the affordability towards availing a home loan shoots up